TLDR Gumi has launched a 2.5 billion yen ($17 million) XRP treasury to expand its blockchain operations. The company aims to strengthen its role in cross-border payments and international remittance systems. Gumi’s XRP acquisition is part of a broader strategy to enhance blockchain-related financial services. The company also acquired 1 billion yen worth of Bitcoin
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TLDR CoinShares has announced its intention to potentially acquire Valkyrie Funds to enter the U.S. crypto ETF market. The deal includes an exclusive option to acquire Valkyrie Funds and a brand licensing agreement for the Valkyrie Bitcoin Fund. CoinShares CEO Jean-Marie Mognetti sees the acquisition as an opportunity to expand its digital asset management expertise
Bitfinex-backed Plasma announced a strategic partnership with EtherFi on Aug. 29, positioning the stablecoin-focused neobank as a day-one launch partner for the blockchain’s mainnet beta. EtherFi will transfer over $500 million from its Ethereum (ETH) staking vault to Plasma’s platform, providing liquidity for stablecoin-backed yield strategies...
Tether abandoned plans to freeze its dollar-pegged USDT tokens on several older blockchains and is choosing instead to classify them as “unsupported,” according to an Aug. 29 statement. The change applies to networks such as Bitcoin Cash, Kusama, EOS, and Algorand, among others. Users will still be able to move tokens across wallets...
BlackRock’s iShares Ethereum (ETH) Trust ETF (ETHA) recorded $1.244 billion in weekly inflows from Aug. 18-22, ranking second among all 4,400-plus ETFs tracked during the period. NovaDius Wealth president Nate Geraci noted in an Aug. 29 post via X that only Vanguard’s S&P 500 ETF outperformed ETHA’s with $1.711 billion in weekly flows...
Eliza Labs and founder Shaw Walters filed a federal antitrust lawsuit against social media platform X on Aug. 27. According to the lawsuit, the plaintiffs are alleging that the social media platform fraudulently extracted technical information about their AI agents before deplatforming them and launching competing products...
Bitwise Chief Investment Officer Matt Hougan said Solana could soon set new all-time highs, mirroring Bitcoin and Ethereum’s record runs earlier this year. Hougan argued that SOL is set to benefit from the same forces that propelled BTC and ETH to new highs this cycle, namely exchange-traded fund (ETF) inflows...
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“I pay them off each month if I use them and don’t run a balance.”...
The chip company said its record revenue of $2 billion was driven by AI demand for its custom chips, but Marvell didn’t deliver upside on its top line...